Debt Management can be complicated, especially if you don’t know where to start. Below are some of our most frequently-asked client questions about Debt Management Plans.

Since 1987, TCA has been helping consumers around the country manage their finances. To find out if a debt management plan (DMP) is right for you, fill out the free debt assessment. A certified credit counselor will guide you through the process.

The initial consultation and debt review are free. If you enroll in a debt management plan, a certified counselor will advise you of any fees. These fees typically include a one-time setup fee and a modest monthly fee, which is included in the monthly debt management payment.

Most creditors will close accounts when you enter a debt management plan. If you decide to enroll in a debt management plan, we suggest you contact creditors first to request accounts be closed "at consumer request."

We recommend that clients enrolled in a debt management plan do not open new lines of credit until the current debt is cleared. Creditors may discontinue benefits if you do. Vehicle and housing loans are unique and may be necessary while enrolled in the program. Our certified counselors will work with lenders to assist with such loans.

We do not place secured debt, including mortgages and automobile loans, on the plan. Additionally, we do not place student loans, payday loans or IRS payments on the plan. These types of debts will be included as expenses in your personal budget and you will need to pay these creditors directly. If you need help with your student loans, click here.

Every situation is unique. The length of the plan will depend on a number of factors such as accuracy of creditor balances, finance charges and any debt added to the program at a later date. Most clients on debt management plans are able to pay off their enrolled credit card debt in five years or less.